The ability to think strategically in today’s global, high-tech business environment is critical to ensuring your organisation survives – and grows – into the future. By breaking down business strategy and value creation to its essential elements, you’ll develop your strategic thinking skills. And through structured learning activities including video lectures, quizzes, discussion prompts and written assessments you’ll discover how to improve your organisation’s competitiveness. This course focuses on the key principles behind the latest thinking in value co-creation, strategy and marketing, and teaches you how to apply them. By learning how to continuously plan, monitor, analyse and assess all that is necessary for an organisation to meet its goals and objectives, you will be better prepared to take your organisation forward in a viable strategic direction.

審閱

PP

Great Learning new subjects, will have overarching improvement in my understanding of the subject . Thanks

AP

May 04, 2020

Filled StarFilled StarFilled StarFilled StarFilled Star

This is great Course, Instructor used case studies and examples to make complex topics simple.

從本節課中

Know your industry

This week you will continue to look at the external strategy context, this time analysing the industry and the broader macro-environment. You will learn how to discover the stakeholders that affect your industry, know which industry forces affect competitive strategies,and identify which macro-environmental factors affect competitive strategies. You will develop understanding of the Porter's 5 Forces framework to analyse the forces in the industry context. You will also learn how to conduct a PESTEL analysis to assess the impact of Political, Economic, Social, Technological, Environmental/physical and Legal (PESTEL) factors on business.

教學方

Associate Professor Ralf Wilden

腳本

You only have to read the daily business news to see that both customers and organizations are affected by developments happening in the business environment. For example, despite the globalized markets we have today, some governments are increasingly trying to strengthen their own country's competitiveness by increasing tax which makes imports more expensive. We hear about technological innovations almost every day, such as Artificial Intelligence, Internet of Things, and big data. All these developments affect customer's competitive strategies, and ultimately the strategic decision making in organizations. Well, it's certainly important to consider customers as the cornerstone of competitive strategy, for the reasons we've discussed in this course already. You'll need to be aware of further external factors that will affect the formulation and success of your strategy. Missing out on important technological developments for example, may diminish your value proposition in the eyes of your customers if you competitors can provide a better product or the same product at a lower price which will create difficulties for your organization. In the previous week, I presented you with this framework for strategic analysis. This week, we'll continue to look at the external strategy context. Moving on from what customers value in market offerings, you learn to understand your industry with the exception of competition which we discussed last week already. Specifically, we look at the macro-environment, and we'll look at the industry. Understanding these factors is important when designing your competitive strategies. So let's get started, bearing in mind our motto for this week, "Know your industry!"